Darling Ingredients helps move the world move toward a more circular economy. They take tons of materials that would otherwise be wasted and transform them into valuable ingredients that the world depends on daily. Food for livestock, pets, and people; gelatin and collagen for human health and well-being; low-emission fuel for cars, trucks, trains, and planes; and renewable energy to power homes and businesses all leverage the power of Darling Ingredients.
Business Challenges
- IT Financial Planning: As a growing global company, Darling Ingredients faced challenges in managing the technology costs associated with simultaneous expansion in multiple countries and in providing accurate expense allocations for business unit profitability views.
- Inefficient, Manual Processes: IT Budget and Forecast cycles relied heavily on spreadsheets and manual processes to collect inputs, gather actuals across multiple ERPs, perform allocations, and distribute reports.
- Transparency: IT expense allocations were facilitated in spreadsheets by a central team, which did not allow planners to model costs or have visibility into key drivers of financial results.
Solution
- Cloud-Enabled IT Financial Planning: Oracle Cloud EPM Planning was deployed for the IT Planning process, dramatically streamlining the process of collecting plan information, automating repetitive integrations and calculations, and establishing a platform for continued future growth.
- Dynamic Driver-Based Modeling: Powerful, self-sufficient, driver-based modeling capabilities provide planners with real-time views of their results, reducing cycle time for planning and forecasting while improving accuracy.
- Reporting and Analysis: Repeatable insights delivered via dashboards. Reports provide visibility to key metrics alongside the ability to perform deeper analysis into organizational profitability.
Impact
- Integrated Planning: Streamlined collection of plan information and aggregated views of technology costs across multiple countries, providing up-to-date expense allocations and a scalable platform.
- End-User Experience: Self-sufficient users, resulting in reduced planning and forecasting time and enhanced data accuracy.
- Improved Reporting: Analytics delivered via Management Reports, allowing for holistic visibility and fine-tuned financial analysis.
